A federal court in New York has ordered MF Global Inc. to pay $1.2 billion in restitution to the failed brokerage firm's customers, the U.S. Commodity Futures Trading Commission said Monday.

The order from U.S. District Court Judge Victor Marrero also imposes a $100 million civil penalty on MF Global to be paid after the bankrupt firm fully pays customers and certain of its creditors, the CFTC said.